What regulatory best practice can be learned from other industries to improve UEFA’s Financial Fair Play (“FFP”)?
In July, the Court of Arbitration for Sport (“CAS”) cleared Manchester City of breaching UEFA’s Financial Fair Play (“FFP”) regulations by allegedly receiving funds from their owner disguised as sponsorship revenue. Although CAS did sanction of EUR 10,000,000 for refusal to co-operate, this is barely a slap on the wrist for a club of Manchester City’s resources, and is not an outcome that enhances the reputation of football businesses.
The CAS decision, the latest one in the list of successful appeals against UEFA, has led many to suggest that this is the end of FFP in football. However, rather than give up on the ultimate objectives behind financial regulation, perhaps what is truly in the sport’s interest is to dust off the old rulebook and look further afield for regulatory best practice.
FRA experts offer their insights in this article by Off The Pitch.